San Francisco-based The Gap, Inc. (GPS) offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands. The company’s board of directors recently approved plans to increase the company’s annual dividend per share by 25% to $0.60 in its fiscal year 2022.
However, GPS expects its 2022 revenue growth to be in the low single-digit percentage range, with first-quarter net sales expected to be down by the low- to mid-teens. The stock has declined 20.8% in price over the past month to close yesterday’s trading session at $11.72. In addition, it is currently trading 68.9% below its 52-week high of $37.63, which it hit on May 18, 2021. So, GPS’ near-term prospects look uncertain.
